Paris (AFP)
The French Rugby Federation has "the resources to get through this crisis while remaining in support of our clubs", assured the body in a press release in which it estimates that the pandemic cost him around 4 million euros.
"French rugby can count on the FFR's robust financial situation with cash of 76 M euros including 59 M euros in insurance funds, equity estimated at 32.5 M euros and almost 110 M euros insured until 2024 thanks to our partner contracts, "explained Alexandre Martinez, treasurer general of the FFR, in this press release published on Monday.
"So we have the resources to get through this crisis while remaining in support of our clubs," added the leader.
In an 11-page letter, the FFR wanted to be reassuring by taking stock of its financial situation before and after the pandemic, which put a stop to all rugby competitions in France.
Since 2016, the Federation has completed three beneficiary annual fiscal years: +900,000 euros in 2016-2017, +211,000 euros and +60,000 euros for the last two seasons.
But the period 2017-2018 is negative (-7.35 million) due, according to the FFR, to the abandonment of the Grand Stade project but also to the organization of the World Cup for under 20s and the constitution of the candidacy , victorious, at the organization of the 2023 World Cup.
According to this document, the cash flow of the FFR is, as of April 30, 2020, 76 million. The Federation also has provisions for "risks and charges of almost 17 million euros" for an annual budget of nearly 110 million euros.
Finally, the effects of the health crisis are estimated between 3.5 and 4 million euros, partly linked to the cancellation of the France-Ireland match in the Six Nations Tournament.
In March, the president of the Federation Bernard Laporte had promised aid of 35 million for amateur clubs, aimed at compensating for their economic difficulties.
© 2020 AFP